NYS LIFE ACCIDENT AND HEALTH INSURANCE
EXAM 2024 ACTUAL EXAM 2 VERSIONS
(VERSION A AND B) COMPLETE 450 QUESTIONS
WITH DETAILED VERIFIED ANSWERS
According to the ACA, insurers can no longer deny health coverage due to pre-
exsisting conditions unless that plan is a - ANSWER...Grandfathered plan
Which item must be considered by an agent when determining the suitability of an
annuity recommendation? - ANSWER...The client's financial status
An applicant submits a life insurance application where an investigative consumer
report is used in the underwriting process. Which of these statements is true? -
ANSWER...Applicant has a right to receive a copy of the report
If group Health benefit levels are too high, what could be the end result? -
ANSWER...Overutilization of the plan
A life insurance producer licensed in New York is authorized to -
ANSWER...Solicit, receive and forward applications to the insurer
A group-owned insurance company that is formed to assume and spread the
liability risks of its members is known as a - ANSWER...Risk retention group
,Any employee insured under a group life insurance plan is normally -
ANSWER...Covered with term life insurance
A life insurance guaranteed insurability rider gives the insured the right, without
proving insurability, to - ANSWER...Periodically purchase additional insurance
A policy owner has decided to replace an existing life insurance policy with a new
one. The existing life policy should be terminated - ANSWER...After the new life
policy has been issued and delivered to the policy owner
Which of the following is NOT a function of accident and health insurance? -
ANSWER...Pays a death benefit as a result of natural causes
What typically changes at the re-entry option date found in some term life policies?
- ANSWER...Premium
When an illustration is used in the sale of a life insurance policy, the illustration
MUST contain a statement signed by the - ANSWER...Agent
Andy is in need of health care performed by skilled medical practitioners, but only
on an intermittent basis. What level of care will his doctor likely prescribe? -
ANSWER...Intermediate care
An individual may receive Medicare Part A Hospital benefits, regardless of age, as
long as the person has received which of the following benefits for at least 24
months? - ANSWER...Social Security Disability
,Field underwriting by a producer - ANSWER...may result in the disclosure of
hazardous activities of the applicant
Emergency health care coverage for Medicare enrollees traveling abroad is -
ANSWER...A Medicare Supplement additional benefit
Which of the following statements is true regarding accident and health insurance
claims that reimburse on an indemnity basis? - ANSWER...Claims can be sent
directly to the insured
Who may terminate coverage under a cancelable health insurance policy? -
ANSWER...Either the insured or the insurer
What is the actuarial value of a bronze level health plan? - ANSWER...60
Rick owns a variable universal life policy and chooses a variable death benefit
option. What will typically happen to the death benefit as a result of this selection?
- ANSWER...Fluctuate with changes in the cash account
With life insurance, the needs approach is used primarily in determining -
ANSWER...How much life insurance a client should apply for
A Health Reimbursement Arrangement MUST be established - ANSWER...By the
employer
, Pete the agent made public statements that falsely portrayed Acme Insurance
Company as avoiding claim payments. Pete may be found guilty of -
ANSWER...Defamation
An insurance company willingly published false information in an insurance policy
advertisement. This is an example of - ANSWER...Misrepresentation
Mary has a HSA. Distributions that she has made for anything other than qualified
medical expenses are considered taxable and subject to a penalty of -
ANSWER...20%
A life insurance policy provision that has the ability to reduce the death benefit is
called the - ANSWER...accelerated (living) benefit
When does the producer give a premium receipt for a life insurance application? -
ANSWER...When the initial premium has been paid with the application
A group health insurance policy is a contract between an - ANSWER...Employer
and insurance company
What is another name for a Keogh plan? - ANSWER...HR 10 plan
A major medical expense plan typically includes coverage for hospital room and
board. Which of the following is normally covered under the category "room and
board"? - ANSWER...General nursing care
EXAM 2024 ACTUAL EXAM 2 VERSIONS
(VERSION A AND B) COMPLETE 450 QUESTIONS
WITH DETAILED VERIFIED ANSWERS
According to the ACA, insurers can no longer deny health coverage due to pre-
exsisting conditions unless that plan is a - ANSWER...Grandfathered plan
Which item must be considered by an agent when determining the suitability of an
annuity recommendation? - ANSWER...The client's financial status
An applicant submits a life insurance application where an investigative consumer
report is used in the underwriting process. Which of these statements is true? -
ANSWER...Applicant has a right to receive a copy of the report
If group Health benefit levels are too high, what could be the end result? -
ANSWER...Overutilization of the plan
A life insurance producer licensed in New York is authorized to -
ANSWER...Solicit, receive and forward applications to the insurer
A group-owned insurance company that is formed to assume and spread the
liability risks of its members is known as a - ANSWER...Risk retention group
,Any employee insured under a group life insurance plan is normally -
ANSWER...Covered with term life insurance
A life insurance guaranteed insurability rider gives the insured the right, without
proving insurability, to - ANSWER...Periodically purchase additional insurance
A policy owner has decided to replace an existing life insurance policy with a new
one. The existing life policy should be terminated - ANSWER...After the new life
policy has been issued and delivered to the policy owner
Which of the following is NOT a function of accident and health insurance? -
ANSWER...Pays a death benefit as a result of natural causes
What typically changes at the re-entry option date found in some term life policies?
- ANSWER...Premium
When an illustration is used in the sale of a life insurance policy, the illustration
MUST contain a statement signed by the - ANSWER...Agent
Andy is in need of health care performed by skilled medical practitioners, but only
on an intermittent basis. What level of care will his doctor likely prescribe? -
ANSWER...Intermediate care
An individual may receive Medicare Part A Hospital benefits, regardless of age, as
long as the person has received which of the following benefits for at least 24
months? - ANSWER...Social Security Disability
,Field underwriting by a producer - ANSWER...may result in the disclosure of
hazardous activities of the applicant
Emergency health care coverage for Medicare enrollees traveling abroad is -
ANSWER...A Medicare Supplement additional benefit
Which of the following statements is true regarding accident and health insurance
claims that reimburse on an indemnity basis? - ANSWER...Claims can be sent
directly to the insured
Who may terminate coverage under a cancelable health insurance policy? -
ANSWER...Either the insured or the insurer
What is the actuarial value of a bronze level health plan? - ANSWER...60
Rick owns a variable universal life policy and chooses a variable death benefit
option. What will typically happen to the death benefit as a result of this selection?
- ANSWER...Fluctuate with changes in the cash account
With life insurance, the needs approach is used primarily in determining -
ANSWER...How much life insurance a client should apply for
A Health Reimbursement Arrangement MUST be established - ANSWER...By the
employer
, Pete the agent made public statements that falsely portrayed Acme Insurance
Company as avoiding claim payments. Pete may be found guilty of -
ANSWER...Defamation
An insurance company willingly published false information in an insurance policy
advertisement. This is an example of - ANSWER...Misrepresentation
Mary has a HSA. Distributions that she has made for anything other than qualified
medical expenses are considered taxable and subject to a penalty of -
ANSWER...20%
A life insurance policy provision that has the ability to reduce the death benefit is
called the - ANSWER...accelerated (living) benefit
When does the producer give a premium receipt for a life insurance application? -
ANSWER...When the initial premium has been paid with the application
A group health insurance policy is a contract between an - ANSWER...Employer
and insurance company
What is another name for a Keogh plan? - ANSWER...HR 10 plan
A major medical expense plan typically includes coverage for hospital room and
board. Which of the following is normally covered under the category "room and
board"? - ANSWER...General nursing care
